Binance’s CZ informs customers about resumption of deposit, withdrawal services


Binance had pledged to increase the quality of its security after the May 7 hack, wherein 7,000 Bitcoins [BTC] were stolen from the exchange’s hot wallet. However, the customers can take a sigh of relief as the CEO of Binance, Changpeng Zhao, informed that withdrawals and deposits services would be restarted early next week.

Twitter user @CryptoVanessa asked:

“Hey @cz_binance how long till the deposite/withdraw suspend is over ? @binance #Binance”

CZ informed the user that his team is aiming to start the services by early next week and added:

“We are aiming for early part of next week, better safe than sorry this time. Please bare with us. Your understanding is much appreciated. 🙏🙏🙏

With the largest cryptocurrency Bitcoin [BTC] soaring almost every day and aiming to cross $7k, the users are anxious to get better returns and deposit more BTC. One of the Twitter users asked the CEO to hurry up the process in order to deposit BTC and the CEO replied:

“working on it, day and night.”

Binance, the largest cryptocurrency exchange was believed to be safe and CZ had time and again bragged about its security until they were hacked. Post the hack, the company promised its customers to ‘significantly revamp’ their security, procedures, and practices. The CEO said:

“significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident.”

Post the hack, Binance Coin had been falling, however, the pump of BTC saved the coin from going into a slump. BNB was valued at $20.52 with a market cap of $2.89 billion, at press time. The 24-hour trading volume of the coin was reported to be $234.74 million as it reported a fall by 10.51% over the past week. The coin made some recovery as it managed to register 6.03% growth in the past day and 1.09% within an hour.

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